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20121201
20121231
Search Results 0 to 7 of about 8 (some duplicates have been removed)
billions of dollars of government bonds in its effort to keep interest rates low. pimco c.e.o. mohamed el-erian will join us. >> susie: and the legal marijuana business-- two states okaying it for recreational use. we talk with one company profiting from medical marijuana products. >> tom: that and more tonight on "n.b.r." >> susie: an historic move today by the federal reserve. fed chairman ben bernanke and other policy makers said they will keep their key interest rate near zero until the unemployment rate falls below 6.5% or inflation rises to 2.5%. now, this is the first time the fed has set a clear economic target for how long interest rates will stay at record lows. the surprise decision means the central bank will continue stimuting the economy by buying bonds. darren gersh explains the dramatic move. >> reporter: ben bernanke and his colleagues will no longer mark a date on the calendar for when they expect to begin raising interest rates. from now on, they'll make that call based on a target for the unemployment rate and inflation. >> it'll act to some extent as an automatic stab
, we turn now to mohamed el-erian, c.e.o. of pimco. >> susie: mohammed, great to see you. so you've had time to think about what the fed said. what is your take on this unprecedented move? is this a good thing? is this a bad thing for the economy and for the outlook going forward? >> my take is basically what is showing in the market today, which is to combine the words "unprecedented" "surprising" with unchanged markets. how do you do that? the analogy, susie, is look at the patient who is taking an experimental drug, that hasn't been clinically tested. professional investors like the idea that the fed is all in, and they like the idea that there is some drug out there that can help the economy. so they get excited about that. but at the same time, professional investors realize we're in totally unfamiliar territory. the operational modlities are complicated, and it has not worked in the past. so i reacto react as, you know what, this is neither good news or bad news. this is just a confirmation that the fed is all in. it doesn't speak to what is going to happen to equity prices on its
and holland and company. and tomorrow tonight, we'll have more analysis on the fed decision. mohamed el-erian joins us. he's the c.e.o. of pimco. >> tom: still head, british bank hsbc agrees to pay a record fine for laundering mexico drug money. >> susie: it's a major hit to organized labor-- michigan approved legislation today that would greatly limit labor rights. protestors swarmed the state capital as lawmakers passed a bill prohibiting unions from requiring employees to join and pay dues. the move would make michigan, one of the most union-friendly states, the 24th "right to work" state, where union dues are voluntary. >> tom: more bumpy skies for boeing's 787 dreamliner. boeing's much anticipated and high-profile plane was grounded last week, according to "the new york times." the federal aviation administration also has ordered that fuel line connectors on all 787s be inspected. analysts call these problems minor hiccups. but as sylvia hall reports, the dreamliner's profitability to boeing right now is raising bigger concerns. >> reporter: boeing's 787 dreamliner promises to use
Search Results 0 to 7 of about 8 (some duplicates have been removed)

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